I do not think it is anything worth worrying about now unless the Avs are serious about buying him out, and that's only because of the amnesty buyout chance.
The salary cap is almost certain to continue to grow. The Avs have several middle sized contracts coming off the books over the next few years in Hejduk, Hejda, O'Brien, Zanon, and Wilson if needed. Worst case, it is not THAT hard to trade an overpaid one tool player...and it is even easier when you can eat some of the salary.
It is so hard to predict what will happen over the next few years. Winning would go a long ways towards solving some of the issues. Winning makes people happy...and happy people are more likely to be willing to take contracts that can help keep the team together.